According to the Rule of 70,if a country grows at 2.0 percent per year instead of 1.5 percent per year,how many fewer years will it take to double its level of real GDP?

Question

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The Rule of 70 states that the number of years it takes for a variable to double is approximately 70 divided by the annual growth rate. If a country grows at 2.0 percent per year instead of 1.5 percent per year, it will take approximately 70 / 2.0 = 35 years to double its level of real GDP instead of 70 / 1.5 = 46.7 years. Therefore, it will take 46.7 - 35 = 11.7 years fewer to double its level of real GDP.

According to the Rule of 70,if a Country Grows at 2.0